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- James2118 wrote:As for capital gains regarding buying off the plan, seeing as you do not settle on the property until the project is complete, unless the completion date gets pushed back, I would assume that you do not hold the asset so the 12 month concession period would not start until the settlement date, which most of the time is the project completion date.
I think (not 100% certain – you'd need to check) that the CGT clock starts ticking at the date of contract, not settlement.
Jacqui Middleton | Middleton Buyers Advocates
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I agree with a lot of points already made
- The need to be clear on your goals, whether it is capital gains, cashflow or quick cash (and a strong 'why')
- That a debt of $600,000 for a PPR will reduce your borrowing capacity for investment purposes
- That there are many tax issues (and legal/asset protection issues) that need to be discussed with an accountant
With regards to US properties, it is true that there are some great bargains out there, especially with a lot of home prices dropping by well below 50% of their all time high, but in my view the real estate bubble in the US hasn't completely deflated yet. Of great concern is tsunami of Alt-A and Options ARM mortgage crisis that looms ahead. If I were to invest in US properties right now I wouldn't be investing for growth until 2014, but I would be investing for cashflow (and I would also be very careful about where I invest)
